search query: @indexterm CAPITAL MARKETS / total: 931
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| Author: | Wang, Guogang |
| Title: | Chinese enterprises' financing and the development of capital market (original in Chinese) |
| Journal: | Finance and Trade Economics (c)
1996 : 9, p.3-10 |
| Index terms: | FINANCING CAPITAL MARKETS CORPORATE FINANCE CHINA |
| Language: | chi |
| Abstract: | This paper makes a detailed analysis of the basic state of fund sources of Chinese enterprises' investment in fixed assets, the operation of enterprises' funds and its effect as well as enterprises' financing in the growth of capital market. It points out that debt financing is an important way for enterprises to finance from capital market, but most of them haven't taken this road due to the restriction in policy, thus leading to their unduly depending on financial institutions including banks and their high debt to asset ratio. There are several channels for enterprises to finance: 1. transferring asset stock to convert debt into shares, 2. establishing multi-level stock exchange market, 3. developing investment fund, 4. selling enterprises of recoup capital outlay and pay debt service. |
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